Quantinno Capital Management LP Has $4.96 Million Stock Position in Fortis Inc. (NYSE:FTS)

Quantinno Capital Management LP raised its stake in shares of Fortis Inc. (NYSE:FTS - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 119,334 shares of the utilities provider's stock after purchasing an additional 12,871 shares during the period. Quantinno Capital Management LP's holdings in Fortis were worth $4,961,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Fortis by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 21,722,993 shares of the utilities provider's stock valued at $902,656,000 after buying an additional 364,391 shares during the period. TD Asset Management Inc. boosted its holdings in Fortis by 1.4% in the fourth quarter. TD Asset Management Inc. now owns 12,266,121 shares of the utilities provider's stock valued at $509,425,000 after acquiring an additional 173,226 shares during the last quarter. Scotia Capital Inc. increased its position in Fortis by 3.7% during the 4th quarter. Scotia Capital Inc. now owns 9,148,037 shares of the utilities provider's stock valued at $379,614,000 after purchasing an additional 329,767 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Fortis by 42.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 4,443,333 shares of the utilities provider's stock worth $184,878,000 after purchasing an additional 1,316,394 shares during the last quarter. Finally, Norges Bank bought a new position in Fortis during the 4th quarter worth approximately $182,242,000. 57.77% of the stock is owned by institutional investors and hedge funds.

Fortis Stock Up 0.7%

Shares of NYSE FTS traded up $0.36 during trading on Wednesday, hitting $48.15. 557,908 shares of the company traded hands, compared to its average volume of 623,448. The firm has a market capitalization of $24.15 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 3.94 and a beta of 0.50. The business's fifty day moving average is $46.81 and its 200 day moving average is $44.49. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.63 and a current ratio of 0.63. Fortis Inc. has a fifty-two week low of $38.15 and a fifty-two week high of $50.06.

Fortis (NYSE:FTS - Get Free Report) last issued its earnings results on Wednesday, May 7th. The utilities provider reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $3.42 billion. Fortis had a return on equity of 7.09% and a net margin of 14.12%. During the same period in the previous year, the company posted $0.93 EPS. Equities research analysts predict that Fortis Inc. will post 2.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FTS shares. Royal Bank of Canada increased their price objective on shares of Fortis from $69.00 to $72.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 8th. Jefferies Financial Group initiated coverage on Fortis in a report on Thursday, February 13th. They set a "hold" rating for the company. Finally, Desjardins started coverage on Fortis in a research note on Tuesday, May 6th. They issued a "hold" rating on the stock. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $72.00.

Fortis Company Profile

Fortis Inc operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 447,000 retail customers in southeastern Arizona; and 103,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,408 megawatts (MW), including 68 MW of solar capacity and 250 MV of wind capacity.